China's domestic real estate market has been in decline this year and property developers are battling an "industry winter".
"Going global" has become a strategic move for major developers but where to go is a decision to be taken based on many factors. According to the Sino-Australia FTA, Australia will reduce inspection of private investment from China and this will add credit to Australia as a property investment destination.
Billionaire Harry Triguboff, the Australian property developer and Australia's fourth-richest man, is in talks with a Chinese company to sell Australia's biggest homebuilder, which he founded more than 50 years ago, Bloomberg reported last month.
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A car drives past a residential block for sale on the outskirts of Mackay city, Queensland state, Australia on June 14, 2013. [Photo/IC] |
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